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25/03/16
18:03
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Originally posted by Skol
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An excessively verbose reply, I'm sure you can shorten them up.
Central banks buying gold? Which ones? Kazakhstan and Russia apparently, hardly examples of human rights and increasing GDP. The Russian economy is in 'deep crisis' according to the news and Kazakhstan's another struggling dictatorship.
Who's selling? Venezuela. It's a fire sale, billions of dollars worth, something the goldbugs here have overlooked, for good reason. A few years ago on the gold forum, the late dictator Hugo Chavez was a goldbug hero, now their economy's in ruins, unsurprisingly.
You're definitely going to have to do better than that given that you've got economic qualifications that you haven't told us about.
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I think the heavy reliance of those counties on oil revenue is more reflective of their current market situation, than "gold buying", as cvcventure noted.